Sprint Corp.’s (S) “Outperform” Rating Reiterated at Macquarie
Sprint Corp. (NYSE:S)‘s stock had its “outperform” rating restated by equities research analysts at Macquarie in a research report issued to clients and investors on Thursday. They currently have a $8.00 price objective on the cell phone carrier’s stock, up from their prior price objective of $7.00. Macquarie’s price objective points to a potential upside of 18.17% from the stock’s current price.
Several other research firms have also recently commented on S. Argus reissued a “hold” rating on shares of Sprint Corp. in a research note on Tuesday, July 26th. Robert W. Baird reissued a “neutral” rating and set a $3.00 target price on shares of Sprint Corp. in a research note on Tuesday, June 28th. Royal Bank Of Canada boosted their target price on Sprint Corp. from $5.00 to $6.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 26th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Sprint Corp. in a research note on Tuesday, July 26th. Finally, Barclays PLC boosted their target price on Sprint Corp. from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 26th. Nine analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $4.54.
Shares of Sprint Corp. (NYSE:S) traded down 0.15% on Thursday, hitting $6.77. The stock had a trading volume of 16,974,806 shares. Sprint Corp. has a 52-week low of $2.18 and a 52-week high of $7.03. The firm’s 50-day moving average price is $6.55 and its 200 day moving average price is $4.89. The firm’s market cap is $26.93 billion.
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Sprint Corp. (NYSE:S) last released its earnings results on Monday, July 25th. The cell phone carrier reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.00. Sprint Corp. had a negative return on equity of 10.53% and a negative net margin of 7.08%. The firm earned $8 billion during the quarter, compared to analysts’ expectations of $8.69 billion. During the same period in the previous year, the firm posted ($0.46) EPS. Sprint Corp.’s revenue for the quarter was down .2% on a year-over-year basis. On average, equities research analysts predict that Sprint Corp. will post ($0.83) EPS for the current year.
Several large investors have recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY boosted its stake in Sprint Corp. by 3.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 22,411 shares of the cell phone carrier’s stock valued at $102,000 after buying an additional 758 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Sprint Corp. by 16.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 25,415 shares of the cell phone carrier’s stock valued at $115,000 after buying an additional 3,612 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Sprint Corp. by 4.0% in the second quarter. Oppenheimer & Co. Inc. now owns 26,155 shares of the cell phone carrier’s stock valued at $119,000 after buying an additional 1,000 shares during the period. Highland Capital Management LLC purchased a new position in shares of Sprint Corp. during the third quarter valued at $121,000. Finally, Private Bank & Trust Co. raised its position in shares of Sprint Corp. by 80.4% in the third quarter. Private Bank & Trust Co. now owns 18,515 shares of the cell phone carrier’s stock valued at $123,000 after buying an additional 8,250 shares during the period. Institutional investors and hedge funds own 14.92% of the company’s stock.
Sprint Corp. Company Profile
Sprint Corporation (Sprint) is a holding company. The Company, along with its subsidiaries, is a communications company offering a range of wireless and wireline communications products and services that are designed to meet the needs of consumers, businesses, government subscribers and resellers. It operates through two segments: Wireless and Wireline.
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